Question 1The savings rate isa) the difference between gross income and disposable income.b) the percentage reduction in taxes due to permitted deductions.Oc) cash savings as a percentage of total net worth.d)the ratio of personal income to taxes paid on income.e) personal savings as a percentage of disposable income.

Average Propensity to Save can be defined as the amount of the disposable income that is saved. It…

the difference between gross income and disposable income. the percentage reduction in taxes due to permitted deductions. cash savings as a percentage of total net worth. the ratio of personal income to taxes paid on income.

the difference between gross income and disposable income. the percentage reduction in taxes due to permitted deductions. cash savings as a percentage of total net worth. the ratio of personal income to taxes paid on income.

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter36: Six Debates Over Macroeconomic Policy

Section: Chapter Questions

Problem 9QR

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